User blog:Groupsoy/26 June 2018 - News of the Day
We're making a debut today, I'll post these once every week. Business Brexit: Car investment slumps as 'uncertainty bites' The Society of Motor Manufacturers & Traders (SMMT) said that Brexit uncertainty was "thwarting" decisions by major car companies to put more money into UK factories. In the first six months of 2017, investment in new models and factory improvements stood at £647.4m. The trade body said that the government's "red lines" on Brexit and "conflicting messages" were working "directly against the interests of the UK automotive sector". Its chief executive, Mike Hawes, told the reporters that the industry needed "clarity" and demanded that Britain stay within the customs union and that a "no deal" scenario - where the UK leaves the customs union and the single market with no preferential trading deal - would be "the worse option imaginable". EU ready to hit back at Trump Trump threatened to make cars his next major target in a transatlantic trade tussle on Friday, saying they were in line for a 20% tariff if the European Union did not remove its own tariffs and trade barriers. "If EU Tariffs and Barriers are not soon broken down and removed, we will be placing a 20% Tariff on all of their cars coming into the U.S. Build them here!" he said on Twitter. Should Trump follow through, analysts said that the European Union will be ready to strike back. "Cars is a big deal. This is a much bigger deal than steel," said David Henig, a former trade negotiator from the United Kingdom who worked on trade talks with the United States. Facebook's rebel investors want to topple Mark Zuckerberg Facebook shareholders with nearly $3 billion invested in the company are trying to topple Mark Zuckerberg as chairman and tear up the company's governance structure. Business Insider has spoken to six prominent shareholders who said there is an unprecedented level of unrest among Facebook's backers following a series of scandals. They are in open revolt about Zuckerberg's power base, which gives him the ability to swat away any shareholder proposal he disagrees with. One investor compared him to a robber baron, a derogatory term for 19th century America tycoons who accumulated enormous wealth. Facebook says its governance structure is "sound and effective" and splitting Zuckerberg's duties as chairman and CEO would cause "uncertainty, confusion, and inefficiency." World News Japan unveils Hello Kitty-themed bullet train It is enough to wake the tired eyes of the groggiest commuter. A striking white and pink bullet train themed around the Japanese cartoon character and marketing phenomenon Hello Kitty. The bespoke train will begin a three month run between the western cities of Osaka and Fukuoka on Saturday. It was unveiled by the West Japan Railway firm which hopes the use of a famous local export will boost tourism. Algeria turns off its internet to keep students from cheating on exams Algeria switched off its internet in an attempt to prevent cheating on exams. Phone jammers, surveillance cameras and metal detectors were also set up in the more than 2,000 exam centers across the north African country to battle academic dishonesty. Mobile phones were already prohibited during exams, but because of the development of technology and the speed with which things can be posted online, it was also necessary to shut down the internet, Education Minister Nouria Benghabrit told state television. Italy to take some migrants from stranded ship Italian Premier Giuseppe Conte says Italy will take some of the migrants onboard the rescue ship run by the German group Mission Lifeline, which has been stranded near Malta for days. Conte said in a statement Tuesday that he made the pledge in a call to the prime minister of Malta. He added that he hoped that other EU countries would follow suit. Politics Tuesday's primaries test the power of Trump's endorsement in GOP contests President Donald Trump's influence with Republican primary voters faces another test Tuesday as he tries to lift two incumbents over outsiders who argue they are the more Trump-like candidates. In South Carolina, Gov. Henry McMaster -- who Trump campaigned for Monday night -- faces a runoff against John Warren, a businessman who was endorsed by the third- and fourth-place finishers in the primary two weeks earlier. In New York, GOP Rep. Dan Donovan faces a challenge from convicted felon and former Rep. Michael Grimm. Trump has backed Donovan, but Grimm is seen as the more Trump-like candidate. *Colorado, Maryland, Mississippi, New York, Oklahoma, South Carolina and Utah are holding elections Tuesday -- with runoffs in South Carolina and Mississippi and primaries elsewhere. *Colorado and Oklahoma will select nominees to replace their outgoing governors, Democrat John Hickenlooper in Colorado and Republican Mary Fallin in Oklahoma. *New York is holding only its federal primaries. That makes the battle between Donovan and Grimm Tuesday's headliner. The Democratic gubernatorial matchup between two-term incumbent Gov. Andrew Cuomo and actress and activist Cynthia Nixon won't take place until September. Syria war: Government forces make gains in south-west State media said troops and militiamen had seized Busra al-Hariri and Malihat al-Atash in Deraa province, cutting a strip of rebel-held territory in half. The government launched an offensive in the region, which borders Jordan and the Israel-occupied Golan Heights, a week ago despite warnings from the US. The UN says at least 45,000 people have already been displaced by the fighting. The region had been relatively calm in the past year because of a "de-escalation" agreement brokered by the US and Jordan, which support the opposition, and Russia, a key ally of the government. Greece hails 'historic' debt relief deal Eurozone countries have agreed a long-awaited debt relief deal for Greece, which has been hailed as "historic". The deal gives Athens more time to repay €96.9bn (£85bn) worth of loans and extends a grace period during which Greece will pay little or no interest. Greek Finance Minister Euclid Tsakalotos said it sent a signal that Greece was turning a new page. EU Economic Affairs Commissioner Pierre Moscovici said the agreement meant "the Greek crisis ends here". Under the deal, eurozone governments are also giving Greece a final cash loan of €15bn to help it keep paying its bills. Greece's current bailout programme is due to end in August. Category:Blog posts